Morfitt's Mailshot Issue 29...          Can't see this email properly? View in browser

Morfitt & Turnbull

Issue 29   

Hokey Cokey

It would be remiss of us to let the EU referendum vote pass by without a mention and there are facts, figures and comment in Adam and Gareth's sections below. As we are also in the midst of the European Championships I thought it might be worth showing which of the countries competing are currently IN and which are OUT of the EU.
IN Belgium Portugal Ireland
France Austria Romania
Germany Croatia Slovakia
Italy Czech Republic Spain
Poland Hungary Sweden
OUT  Iceland England Switzerland
Wales Northern Ireland Turkey
Albania Russia Ukraine
Teams highlighted are still in the competition at time of press!
Another interesting fact is that the qualifying countries are actually members of UEFA which includes four countries that are entirely located in Asia (Armenia, Azerbaijan, Georgia and Kazakhstan).

As for the discussing the England game or the politics...

I'm not going there or I could end up with these two!!!

Cameron & Hodgson

Adam's Technical...  Brexit Statistics
Further to last week's referendum I have provided a brief summary of some statistics released following the result.

The total number of voters was 33,551,983. This means there was a turnout of 72.2%. This was the highest turnout since the 1992 general election.
The number that voted to leave Europe was 17,410,742 and 16,141,241 voted to remain. A sizeable difference in numbers but in percentage terms it was only 48.1% remain and 51.9% leave.

The official voting recorded for each nation was as follows:
Nation Leave Europe Remain in Europe
England 53.4% 46.6%
Wales 52.5% 47.5%
Scotland 38.0% 62.0%
Northern Ireland 44.2% 55.8%
One percentage that caught my eye was that London voted to remain at 59.9%.

In the aftermath of the result The FTSE 100 fell 3.15% last Friday. However, the FTSE 100 was actually in positive territory over the week. It opened on Monday 20 June at 6,021.1 and closed on Friday 24 June at 6,138.7, an increase of 1.95%.

The pound has weakened following the vote. At 4pm on 23 June the exchange rate for £1 was quoted at $1.48 and for the euro 1.302. 24 hours later £1 was quoted at $1.364 and for the euro 1.226.

40 - The number of shadow ministers who have resigned from the Labour party at the time of writing.

So what happens now?

The legal mechanism for withdrawing from the European Union is referred to as ‘Article 50' within the Lisbon Treaty.

Once this has been invoked it sets in motion the formal process for withdrawing from the EU, giving the UK two years to negotiate its withdrawal. The Article 50 rule was only introduced in 2009 and has never been tested so the process from here is unknown. It looks likely that the next Conservative party leader will be the one to instigate Article 50. EU law still stands in the UK until it ceases being a member.

Gareth Says... 

Keep Calm and Carry On!
Still on the EU theme...

"We have highlighted the areas that we believe will be the ‘losers' following the BREXIT vote, namely UK small and medium sized companies and have contacted clients who hold funds in these areas with suggested changes.
    Brexit - The Movers
Another relatively interesting fact is that all the unit trust property funds we invested in have imposed a 5% penalty since we advised clients to switch out, except Henderson who have imposed an 8.5% penalty! It was good advice to come out."

Staff Matters - It's a SHAW thing!
The fantasy football results are in and the Shaw's do a clean sweep of 1st, 2nd and 3rd places!!!

Whilst Gareth has the track record, I am not sure about exactly who was the manager of Pauline's team...! However, we do seem to have a budding fantasy football manager as son Hywel won the second prize and did so totally unaided.

So come on and try to beat them next season – the game begins at the start of the new season in early August, however the registration process will start early next month.
  Fantasy Football


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